Down on the DM
I was interviewed by the BBC earlier today about Dr Martens and their recent financial results – a 55% drop in profits in its half-year results. Ouch. Investors responded in kind with the subsequent drop in share price. When looking at the assortment of the brand, it’s not hard to see that they have fallen […]
Bad Credit
According to the Wall Street Journal, Black Friday sales were strong but retailers are noticing that getting customers to use store-branded credit cards is a hard sell. The article states… “Income from Target’s credit-card business declined 10% in the most recent quarter, compared with the same period a year earlier. At Kohl’s, other revenue, which […]
Power Generator
The aphorism “meeting the customer where they are” is best saved for the daily horoscope; if you believe in that sort of thing. Meeting customer demand is nothing special anymore, instead, this is table stakes. The customer has an expectation, in their relationship with a brand, to be met where they are. At least at […]
Undercover Boss
How often does retail leadership walk the shop floor? Not in a pre-announced way with the eventual photo-op and subsequent LinkedIn post. I mean, in an incognito way. To see what the customer and employee experience is really like. In a planned visit, of course the store will be presented in a pristine manner. Staff […]
Strong Cider
I wandered down to Soho to see the pop-up store of the TikTok famous brand, Cider Fashion. I was curious to see how this ultra-fast fashion brand was going to delight the customer given its popularity. Let me tell you, the cider wasn’t very strong. As a merchant, I found the store to be woefully […]
A Buffalo’s Dozen
Much has been made of the use of data, analytics, and technology in pro sports. Regardless of the advances, the fundamentals of the game should always be executed with precision. Tell that to the Buffalo Bills, who had 12 men on the field at the start of a critical game. Only 11 are allowed. They […]
Part Time Referee
NFL referees are part-time employees. Maybe the league should consider making them full-time. Executives should be part-time referees to occasionally mediate disputes in their companies. The key word is, occasionally. If executives are frequently getting involved to play referee, that might be a sign of a bigger problem. Let’s keep the full-time officiating in the […]
Haste vs. Urgency
There’s a difference between acting in haste versus acting with urgency. Haste – Moving quickly, but without control. Doing things in a frantic manner, almost to the point of panic. There is a sense of nervousness, anxiety, and stress. More mistakes will happen when working this way. Urgency – Moving quickly, but with control. Doing […]
Get a Gift Receipt
According to a recent WSJ article, retailers just want the right amount of stuff this Christmas. They might want a gift receipt. “After a holiday of too much inventory and unflattering margins, retailers are trying to avoid the same mistake.” Are they though? Shipping delays, supply chain bottlenecks, and exorbitant ocean container shipping rates… are […]
Broken Telephone
The game of “broken telephone” is often a riot at parties. For those who don’t know what this is: Players gather in a circle and player one comes up with a message. They whisper it into the ear of someone next to them. That second player repeats the message to the next person and so […]